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Monday, February 6, 2017

Now is the time to rewatch the movie "The Big Short"

      Now that Trump has issued an Executive Order undoing some of the regulations of the Dodd Frank law because some of his wealthy friends can't get loans, it might be a good time to watch a movie that shows why those friends shouldn't get those loans to bring down our banking system.  "The Big Short" shows how you can manipulate the system to steal other people's investments and enrich yourself.  The movie is a little hard to follow in some ways but the message that is clear many in the investment business have the power to bring down our financial system if left unchecked.  Amazing how short our memories can be.  Think it can't happen again?

     Here is an explanation of the law.

1 comment:

edblisa said...

It boggles my mind that the uber wealthy need to take out so many loans anyway? When middle income people want to purchase a house, we are required to pony up some cash for the down payment, yet the wealthy get to finance it all AND get government assistance in the form of tax dollars AND get tax deductions and reductions. The rich get richer and the regular guy gets the shaft EVERY SINGLE TIME! It's sinful.